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Excellent information. Thank you very much! There is fraud taken place in credit card payment, Deals providers like Groupon and Cobone are finding it difficult to avoid fraud payment. Earlier, people were afraid to do online transaction. Now, firms are worried about its authenticity. Is there a way out?

3.
• Paypal – You and I can use Paypal, however you are unable to withdraw funds as a merchant from banks here (they have yet to make agreements on that) – You can set up as a merchant in USA / Europe using Paypal account there – you will be withdrawing from a UAE bank on an American Bank account – currency charges will apply – Can still be cheaper though depending on # of sales

5.
Some Stats for NI• Network International provides credit-card payment processing services to 70 banks and 17,000 merchants.• Its 45,000 card readers are in 28,000 stores across the region• It also operates about 700 ATMs in the Gulf• Abraaj owns 49% of NI (paid 2 billion AED for it)**Purchase price contingent on NI meeting certain profit targets

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What it offers• Offers MIGS (Mastercard) / Comtrust (Etisalat) and Enterpayment as different types of gateways• Incentivizes merchants to bill customers in their currency of choice (dynamic currency conversion / Planet payment – pay in your currency) – good for tourists….• Also has a GPRS solution for payment processing• Also requests $25,000 security deposit!!

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• Payment gateway costs – can be any or all of the below: – Set up costs – Per Transaction fee – Monthly or yearly subscription fees – Per currency fees – Deposit at bank to counter fraud

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• Issues: – Lack of easy to compare pricing across payment providers, banks and free zones – Pricing can be low per transaction – if you have volume payments – need to factor this into business model over time – DON’T FORGET DELIVERY COSTS! – Still better than COD (cash on delivery) in long term…..

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Some ideas to get started• Spend your money on testing before you invest in your own ecommerce platform• Set up shop on www.nahel.com / www.souq.com / www.dokkankom.com / www.shopgo.me• Test various customer acquisition and marketing strategies• Co-market with others in the same vertical• DATA DATA DATA!

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Points to consider• Dropshipping vs Warehousing, inventory management and logistics – Aramex / Fedex / DHL• Time to process customer payments into your bank account and then to suppliers• Returns – how can you minimize these and how much will they cost you?• Customer service